Congressman Steve Cohen (TN-09) today voted for the Affordable Insulin Now Act, addressing the high cost of a disease that is far too prevalent in Shelby County, affecting approximately one in nine adults.
The vote on passage was 232 to 193.
Congressman Cohen made the following statement:
“Diabetes is a serious problem in Memphis and Shelby County, affecting far too many, especially in the African American community. For far too long, Americans have had to pay a price that is out of line with the cost associated with the life-saving drug elsewhere in the world, lining the pockets of insurance companies, pharmacy benefit managers, and insulin manufacturers. The Affordable Insulin Now Act caps those prices for consumers and will provide significant savings to diabetics.”
The bill limits out-of-pocket costs for insulin to no more than $35 per month in Medicare Part D and commercial health insurance plans. It requires private health insurance plans to cover at least one of each type and dosage form of insulin and caps cost-sharing for a 30-day supply at the lesser of $35 or 25 percent of a plan’s negotiated price. The bill also requires all Medicare prescription drug plans to cap cost-sharing for insulin at no more than $35.
Original source can be found here.
